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of these needs that we are not meeting anymore is we need to have a big panic about the deficit. because we have to panic about the deficit, we can't do this stuff we otherwise need to do. deficits, terrible. see this headline today? hey, turns out we do not actually have a deficit. look at that. surprise. huge u.s. budget surplus shatters record. we do not have a deficit right now. we have the opposite of a deficit right now. as of june the u.s. government was taking in $117 billion more that month than it was putting out. we are not in the red, we are in the black. this is the largest june budget surplus ever recorded in the history of the united states of america. but still, a thousand florida national guardsmen are not filling sandbags one day a week every week indefinitely even through storm season because congress panicked about that budget deficit that we do not have. and the deputy manager of the program to land this drone on the "u.s.s. george h.w. bush" says he is furloughing in place on the aircraft carrier while the drone is finally completing its historic landing. this is basically
moneywatch" the shrinking deficit and warren buffett makes a big donation in charity. ashley morrison is here in new york. good morning, ashley. >> reporter: and good morning to you, anne-marie. asian markets bounced back, slight concern over china's efforts to reform credit. hong kong's hang seng earned 2%. >>> wall street with financial tightened wells fargo and chase the dow rose 88 points while the nasdaq added five points. >>> the deficit is down according to a new white house projection. the federal government is spending $759 billion more than it is taking in this year. that's down more than $200 billion from earlier predictions. the improvement is credited to the automatic spending cuts triggered by the financial cliff and increasing revenue from an improving economy. >>> consumers are whipping out their credit cards more often. sending consumer borrowing surging. credit card use has soared to its highest level since fall of 2010. americans increased borrowing in may at the fastest rate in a year. experts say a jump in borrowing means people are feeling more confident in the economy.
into a partisan bill. >> all the folk want is a piece of a sound bite at home to say they believe in deficit reduction. >> they made a clear choice to protect generous subsidies for agricultural corporations at the expense of the hungry and working poor. >> this is not some little club. we are the congress of the united states of america. the most powerful nation on this planet. and we can take care of all of the people. >> this is the lowest of the low. when we can't pass this, you know, ladies and gentlemen, they can't run the house. >> the only thing that this house will do when it votes today is defeat starving children. >> you are taking food out of the mouths of your own poor constituents. >> hr-2642 is a deadbeat majority's proposal. >> enough already. >> enough is enough. >> vote no. >> time has expired. >> vote no. vote no. vote no. it is ridiculous what you're doing to our children. >> every single democrat in the house did vote no today. along with 12 republicans, but that was not enough to stop the republicans' stripped down farm bill. it passed by an eight-vote margin, 216-208.
of it is we planned ten years ahead. the congressional budget office will tell you the deficit will be smaller, come down between 2.5%, 3.5% in 2015 but goes back up again. the entitlement explosion lies beyond that horizon and we do not have even the beginnings of an answer to the question of what we do about that. if we do nothing the problem gets worse and ultimately what it means and this is a central argument of my book "the great degeneration" is that the next generation is going to be clobbered by much higher taxes plus probably also far fewer entitlements than the baby boomers. that's the reality of fiscal policy and nothing that has happened including the sequester fundamentally changes that. >> you talk about this next generation, almost as if america in some cases is eating its young, when you look at the high student loan debt, the fact that so many kids are underemployed, all of these majors at one time would have been a path to middle class life are not anymore. the kids are underemployed. they're not even working in jobs. >> right. >> large share of graduates are not working at
" says this year's deficit forecast has shrunk. deficit expected to be $759 billion. that's $214 billion less than previously forecast. part of the reason the massive automatic spending cuts that kicked in march 1st. >>> "wall street journal" says americans are keeping up with their credit card bills. the rate of people falling behind has dropped to the lowest level in two decades. experts say debt is down and wealth is up. >> charlotte observer said singer randy travis is hospitalized in critical condition with heart problems. the 54-year-old is treated for a heart ailment caused by a virus that can cause heart failure. >>> a scene of chaos in canada. flash flooding dumped a record amount of rain nearly four inches around toronto. 300,000 customers lost power. the subway system was shut down and may not be back at full strength today. 1400 commuters were trapped four hours until early this morning. they had to be rescued after their train filled with gushing water. police and firefighters used small inflatable boats to free them. forecasters saying more th
the deficit will shrink by $214 billion. of course it won't be gone completely, washington is spending about $1 trillion more than it takes in. spending cuts are paying off. >> what is three quarters of a trillion dollars? >> pocket change. >> check this out. this is in tron corontotoronto,. >> that's a road? >> i'm sure it's a road completely under water. nearly four inches fell in just hours. 100,000 customers are without power. passengers were stuck in the subway system. looks like a mess. chad myers tracking all the weather there and here for us. >> we talked about this yesterday how the pattern was changing and everything was going to shift to the north. i didn't mean north of the border, i meant chicago. the storms parked themselves over the area and never stopped. a couple showers across toronto. i'm going to show you a waterspout that happened in tampa and showers in pennsylvania and ohio as well. a couple cool pictures. one to three inches across the northeast. two to four across ohio. the rain isn't stopping. 87 in new york city today. it's still hot but not the heat index of 104 l
the people that had to construct, that helps younger workers and we do also have a deficit. we don't have young people able to do the job we're outsourcing to india. we need to be training young people starting in high school to do stem job, research and science. >> in that last segment -- well, there you go. [ applause ] in the last segment we were talking about the outsourcing of the jobs. we should point out that 60% decline in manufacturing jobs in this city >> that's right. >> when you talk about an industrial revolution the best place to do it is where there's people who are willing to work. >> exactly. >> but when you have capital which is hard to get and minorities can't get the capital. >> that's right. >> because they don't have the resources to back them up if business doesn't go well, what else can we do other than some kind of public/private partnership involved with federal money to turn these numbers around? >> i think it has got to start there but also long-term we have to level the playing field in terms of corporations. a lot of reasons you see the outsourcing of manufac
that hacked into iran's nuclear program. >>> and "the washington post," the deficit has shrunk. expected to be $759 billion. part of the reason is the massive spending cuts that kicked in march 1st. >>> "the wall street journal" says people are keeping up with credit card bills. rate of people falling behind has dropped to lowest level in two decades. debt is down and wealth is up. >>> and the charlotte observer says randy travis is hospitalized in critical condition with heart problems. the 54-year-old is treated for a heart ailment caused buy ay a virus. >>> and flash flooding in toronto, 300,000 customers lost power. the subway system was shut down and may not be back at full strength today. 1400 commuters were trapped for hours until early this morning. they had to be rescued after their train filled with gushing water. rescuers used inflatable boats to fry to free them. more thunderstorms today. >>> and a fast-moving tropical storm threatening the caribbean. it intensified overnight. it could be at hurricane stre >> announcer: this national weather report sponsor
, what they should have done was -- >> number one, try to find out what the deficits are. work with that. see what they can each contribute and it's not just about the money, as you are saying, it's all about just the contribution to the family. >> let's talk about household chores. that's another thing. a lot of people -- there's a great scene from that movie "the breakup." >> what happened here? what yoare you doing? what are you doing? >> i had a rough day. my feet are killing me. >> my feet are killing me, too. i went to the market, cleaned this entire condo and i've been cooking for the last three hours. come on. help set the table. >> sweetheart, you have done such a great job already. don't you want to finish it yourself and have that personal power of accomplishment? >> set the table. >> all she wanted was the lemons. i remember that scene so well. >> that frustration when you feel like you are carrying the whole load. >> it's also a frustration for guys, too, because they are often criticized for not doing the housekeeping the right way because we normally don't know how. but at
Search Results 0 to 11 of about 12 (some duplicates have been removed)